RIHANNA AND LVMH SHUT DOWN LUXURY BRAND

LVMH is putting a hold on Fenty, Rihanna’s Paris-based ready-to-wear label. The luxury conglomerate announced the collaboration with the music superstar and business mogul in 2019, subsequently introducing seasonal sportswear collections to great fanfare. But, according to reports, sales for the high-end line did not match the buzz.

“Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions,” reads a statement by LVMH, per WWD.

The news of Fenty’s closure, however, isn’t the end of LVMH’s partnership with Rihanna. The company has seen strong sales with Fenty Beauty and Fenty Skin, which is operated under LVMH’s Kendo Holdings, Inc. Rihanna’s lingerie label, Savage x Fenty, which was launched with TechStyle Fashion Group in 2018, has also performed well in the market. Most recently, the intimates brand received $115 million in Series B from equity firm L Catterton, which has ties to LVMH.

“Lingerie is about celebrating your body and that’s what Savage is all about,” said Rihanna in a statement about the investment. “Savage to me is such a powerful word. It’s about being confident, in charge, and taking ownership of our choices. This brand is a home, a hub and a safe space for everyone—regardless of shape, size, ethnicity, gender identity or sexual orientation. It is a representation of all and a validation that everyone is beautiful no matter what.”

The Fenty fashion collection largely consisted of oversized jumpers, matching trousers, hoodies, leather skirts, sweater and shirtdresses, denim, and eyewear, and was sold primarily on the brand’s website, along with pop-ups at Bergdorf Goodman, Galeries Lafayette Champs-Élysées, and Selfridges. Celebrities, including Bella Hadid and Cara Delevingne, were regularly seen in pieces from the collection. It also launched a shoe line with designer Amina Muaddi in November 2020. But as of January 2021, Fenty’s Instagram account ceased updates, and the e-commerce platform is said to follow in the coming weeks.

Source: harpersbazaar